Giuseppe Basile, CSTA/IFTA
FibStalker Trading
Summary: in the room today we mentioned the beautiful Euro (EUR/USD) setup we have been anticipating in the past few session in the 1.1080 area. The market has offered a free-risk trade during the US session and now trading higher, potentially into the 1.52 area. Below 1.1006, a retest of 1.0960 is possible.
We have also looked at NZD/USD which has still the potential, for a swing trade, to move into 0.6850. Target unchanged also for GPB/JPY onto 156.40.
The USD/JPY has continued in its weakness and we cannot tell if it has seen its highs already. If the EUR/USD trades higher from here, the USD/JPY highs are in and we will need to trade a continuation short extension.
The dollar index futures is still in extension shorts into the 94.50 level.
Gold and Silver are trading in extension longs and if recent lows in Gold are tested again there is a high probability for a positive retest.
S&P500 futures recent strength puts this market into a retest of 1,890 area with a move all the way into 1,956 and even higher into 1,993 but this could be the last gasp. However weekly longs will only step away below 1,797
Finally, GBP/CAD has showed great developments yesterday, with price stating that there is no more interest from weekly and monthly algo players to sustain higher prices.
See you on Sunday, for a new, interesting week at the FXTO.
~FibStalker
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Come daily to Live Video and chat with experts and traders.
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We have also looked at NZD/USD which has still the potential, for a swing trade, to move into 0.6850. Target unchanged also for GPB/JPY onto 156.40.
The USD/JPY has continued in its weakness and we cannot tell if it has seen its highs already. If the EUR/USD trades higher from here, the USD/JPY highs are in and we will need to trade a continuation short extension.
The dollar index futures is still in extension shorts into the 94.50 level.
Gold and Silver are trading in extension longs and if recent lows in Gold are tested again there is a high probability for a positive retest.
S&P500 futures recent strength puts this market into a retest of 1,890 area with a move all the way into 1,956 and even higher into 1,993 but this could be the last gasp. However weekly longs will only step away below 1,797
Finally, GBP/CAD has showed great developments yesterday, with price stating that there is no more interest from weekly and monthly algo players to sustain higher prices.
See you on Sunday, for a new, interesting week at the FXTO.
~FibStalker
-----
Come daily to Live Video and chat with experts and traders.
-----
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